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What is a fair amount to increase rent by?

If it does become necessary to increase the rent of a long standing tenant it is important that the increase is reasonable and by no more than 5% ideally.

What is the most a landlord can raise rent?

The Tenant Protection Act of 2019 (AB 1482) restricts rent increases in any 12-month period to no more than 5% plus the percentage change in the cost of living (CPI), or 10%, whichever is lower. For increases that take effect on or after Aug. 1, 2022, due to inflation, all the applicable CPIs are 5% or greater.

Is New Mexico a landlord friendly state?

Over 30% of households in New Mexico live in rental properties according to Census ACS data. The state is somewhat landlord-friendly as there are no rent control laws and evictions may take less time than in other states. All US states, including New Mexico, have a statewide Landlord-Tenant law in place.

Do you have to agree to rent increase?

Your landlord cant increase your rent during your fixed term unless you agree or your agreement allows it. If your agreement says your rent can be increased it has to say when and how it will be done. This is known as having a rent review clause.

What is the rent increase for 2022 in California?

According to AB-1482, the Tenant Protection Act of 2019, the maximum that landlords can raise rents in California is 5% per year, plus the percentage change in the cost of living according to the consumer price index, or 10% of the lowest rent increase at any time during the 12 months (whichever is less).

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